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Tax Reform

The following is a statement from presidential candidate John Cox:

“America must be a nation of Big Ideas, and one of those ideas must be to make our tax system fair for all Americans.

While politicians have talked for decades about “tinkering” with the tax code, I propose eliminating it altogether, along with the IRS.

Our tax system is counterproductive, too complicated and time consuming. In the hands of Congress, the existing tax code becomes a tool of corruption, in which Congressmen trade favors with special interests for loopholes in exchange for campaign contributions.

Taxes impact so much of our economy. The best tax system collects revenue with little impact on the economy. Our competitive position in the world depends on our ability to reform our system.

Taxing income is an inherently bad idea. It discourages savings and discourages investment back into the economy – investment that is needed to expand production and create jobs.

The Fair Tax – a national sales tax – would lead to a growing economy, free Americans of the burden and invasion of privacy of the income tax and broaden the base to reach illegals and others in the underground economy who don’t currently pay taxes.

Together, we can adopt a tax system that frees America’s mom and pop businesses to spend time doing what they went into business to do, rather than spend their precious resources doing their taxes. Corporations will be able to create jobs with the money saved by eliminating tax departments, whose only function is to find loopholes in a corrupt system.

As president, I will pursue a tax system that is fair to all Americans and actually promotes economic growth, not stifles it.”

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